Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

motusbank Personal Loan Review

A motusbank personal loan could give you the cash you need to help with unexpected expenses.

Digital bank motusbank offers personal loans from $5,000 to $35,000 for terms of 1 - 5 years. With motusbank, the entire borrowing process takes place online so you can apply from the comfort of your home.

No reviews yet. Write a review

From 5.15%

Interest Rate

$35,000

Max. Loan Amount

Please note: All information about motusbank Personal Loan has been collected independently by Finder and this product is not available through this site.

Pros and cons

Pros

  • Borrow up to $35,000
  • Fixed and variable interest rates available
  • Online loan repayment calculator

Cons

  • Unclear fees
  • Doesn’t offer 24/7 support

Main points to consider with a motusbank Personal Loan

Motusbank offers personal loans from $5,000 to $35,000. You could borrow funds from 1 year to 5 years depending on your financial circumstances. motusbank Personal Loans are unsecured, which means you won’t need to use any assets as collateral.

If your application is approved, you can use the money for a range of purposes including buying a car, paying off debt, funding a wedding or even renovating your home. The interest rate of your Motusbank loan will depend on your financial circumstances and credit history, with rates starting from 5.15% APR.

Features of a personal loan from Motusbank

motusbank Personal Loans include the following features:
  • Loan rates as low as 5.15%. Motusbank offers personal loans with interest rates starting at 5.15%. Keep in mind that interest rates vary depending on individual circumstances.
  • Available across Canada. motusbank Personal Loans and lines of credit are available in all Canadian provinces and territories except Quebec.
  • High loan limit. You can borrow up to $35,000 from Motusbank to help cover a wide range of costs such as paying for a wedding, starting a business or buying a car. The exact amount you are able to borrow from Motusbank will depend on your credit report and current income.
  • Fixed or variable interest rates. The interest rate can be fixed or variable. Either way, your monthly payments will be the same over the course of your loan.
  • Flexible loan terms. Personal loan terms range from 1 - 5 years.
  • Loan calculator. You can use Motusbank‘s online loan calculator to determine the total cost of your desired loan before you apply.

How much does the loan cost?

Personal loans from Motusbank have interest rates as low as 5.15%. The exact interest rate of your loan will be clearly stated in your loan contract as well as any fees that may apply.

Your total loan cost will depend on the amount you borrow, the length of your loan and your credit history.

How to apply for a motusbank Personal Loan

If you want to apply for a motusbank Personal Loan, head to the Motusbank website to begin your application. To be eligible for a loan, you typically need to meet the following criteria:

  • Be a citizen or resident of Canada
  • Be at least 18 or 19 years of age, depending on the province you live in
  • Have good credit and at least a 12-month credit history
  • Have a Canadian bank account
  • Not have declared bankruptcy
  • Have no current delinquencies or collections on your credit file

When applying for a loan you generally need to provide:

  • Personal information including your name, address and email address
  • Proof of income
  • Canadian bank account details

Compare other personal loans

Name Product Interest Rate Loan Amount Loan Term Requirements Credit Score Link
LoanConnect Personal Loan
Secured from 1.90%, Unsecured from 5.75%-46.96%
$500 - $50,000
3 - 120 months
Currents debts must total less than 60% of income
Min. credit score: 300
Go to site
More Info
An online broker who helps inform clients towards better finances. Get pre-approved by different lenders for unsecured or secured loans in 5 minutes with any credit score.
Spring Financial Personal Loan
17.99% - 46.96%
$500 - $15,000
9 - 48 months
Min. income of $1,800 /month, 3+ months employed
Min. credit score: 400
Go to site
More Info
An online lender offering unsecured personal loans and credit builder loans. Those filing for bankruptcy or a consumer proposal can also apply. If you're not eligible for an unsecured loan, you may be offered a loan to help rebuild your credit.
ConsumerCapital Personal Loan
19.99% - 34.99%
$1,500 - $12,500
24 - 60 months
Min. income of $1,900 /month, 6+ months employed
Min. credit score: 600
Go to site
More Info
An online lender that provides fast unsecured personal loans. Complete an application in less than 10 minutes and get a decision within 24 hours. For faster loan approval, complete the Flinks bank integration in the app.
SkyCap Financial Personal Loan
12.99% - 39.99%
$500 - $10,000
9 - 36 months
Min. income of $1,200 /month, stable employment
Min. credit score: 550
Go to site
More Info
An online lender offering unsecured personal loans to borrowers with a wide range of credit scores. Apply in less than 5 minutes and if approved, receive financing in as little as 24 hours.
FlexMoney Personal Loan
18.90% - 46.93%
$500 - $15,000
6 - 60 months
Min. income of $2,000 /month, 3+ months employed
Min. credit score: 500
Go to site
More Info
An online lender offering flexible unsecured loans. Apply in less than 10 minutes and if approved, receive financing in as little as 24 hours. Pay off your loan at any time.
Loans Canada Personal Loan
Secured from 2.00%, Unsecured from 8.00% to 46.96%
$300 - $50,000
3 - 60 months
No min. income or employment requirements
Min. credit score: 300
Go to site
More Info
An online broker with the largest lender network in Canada. Get matched for free with lenders offering both unsecured and secured loans through one quick application regardless of your financial situation.
OFFER
Mogo Personal Loan
9.90% - 46.96%
$200 - $35,000
6 - 60 months
Min. income of $13,000 /year
Min. credit score: 500


Mogo offers a 100-day money-back guarantee. If you're not happy with your loan, pay back the principal and get your 100 days of paid interest and fees back.
Go to site
More Info
An online lender who aims for a hassle-free process through same-day unsecured loan approval and funding. Get a loan fast and track your credit score for free.
Fairstone Personal Loan (Unsecured)
26.99% - 39.99%
$500 - $25,000
6 - 60 months
Able to make monthly repayments on your loan
Min. credit score: 560
Go to site
More Info
An online lender with a team dedicated to professional service. Get a quote for an unsecured loan without impacting your credit score. Receive funds within as little as 24 hours. No prepayment fees.
Fairstone Personal Loan (Secured)
19.99% - 23.99%
$5,000 - $50,000
60 - 120 months
Must be a homeowner
Min. credit score: 560
Go to site
More Info
Use your home equity to get a secured loan up to $50,000 with flexible repayment options and a long loan term. Get a quote without impacting your credit score.
Loan Away Personal Loan
19.90% - 45.90%
$1,000 - $5,000
6 - 36 months
No min. income or employment requirements
Min. credit score: 300
Go to site
More Info
A lender that approves unsecured loans in as little as 20 minutes. Get affordable monthly repayments with any credit score.
loading

Compare up to 4 providers

Go to site